Stock Analysis on Net

Autodesk Inc. (NASDAQ:ADSK)

Adjustments to Financial Statements

Microsoft Excel LibreOffice Calc

Adjustments to Current Assets

Autodesk Inc., adjusted current assets

US$ in thousands

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Current assets 2,699,200  2,659,300  1,620,000  1,877,900  2,460,600  2,993,100 
Adjustments
Add: Allowance for doubtful accounts 3,800  4,900  2,200  2,300  1,500  7,600 
After Adjustment
Adjusted current assets 2,703,000  2,664,200  1,622,200  1,880,200  2,462,100  3,000,700 

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).


Adjustments to Total Assets

Autodesk Inc., adjusted total assets

US$ in thousands

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Total assets 7,279,800  6,179,300  4,729,200  4,113,600  4,798,100  5,515,300 
Adjustments
Add: Operating lease right-of-use asset (before adoption of FASB Topic 842)1 —  —  357,250  219,889  194,862  229,618 
Add: Allowance for doubtful accounts 3,800  4,900  2,200  2,300  1,500  7,600 
Less: Long-term deferred tax assets2 763,100  56,400  65,300  81,700  63,900  9,200 
After Adjustment
Adjusted total assets 6,520,500  6,127,800  5,023,350  4,254,089  4,930,562  5,743,318 

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

1 Operating lease right-of-use asset (before adoption of FASB Topic 842). See details »

2 Long-term deferred tax assets. See details »


Adjustments to Current Liabilities

Autodesk Inc., adjusted current liabilities

US$ in thousands

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Current liabilities 3,254,700  3,219,200  2,301,200  2,123,200  2,185,400  1,591,000 
Adjustments
Less: Current deferred revenue 2,500,900  2,176,100  1,763,300  1,551,600  1,270,100  1,068,900 
Less: Current portion of restructuring and other exit costs reserve —  —  2,100  57,200  6,600  800 
After Adjustment
Adjusted current liabilities 753,800  1,043,100  535,800  514,400  908,700  521,300 

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).


Adjustments to Total Liabilities

Autodesk Inc., adjusted total liabilities

US$ in thousands

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Total liabilities 6,314,300  6,318,400  4,940,100  4,369,600  4,064,500  3,895,700 
Adjustments
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  357,250  219,889  194,862  229,618 
Less: Long-term deferred tax liabilities2 11,400  82,500  79,800  66,600  91,500  67,700 
Less: Deferred revenue 3,360,200  3,007,100  2,091,400  1,955,100  1,788,000  1,519,200 
Less: Restructuring and other exit costs reserve —  —  2,100  57,200  8,400  1,300 
After Adjustment
Adjusted total liabilities 2,942,700  3,228,800  3,124,050  2,510,589  2,371,462  2,537,118 

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Long-term deferred tax liabilities. See details »


Adjustments to Stockholders’ Equity

Autodesk Inc., adjusted stockholders’ equity (deficit)

US$ in thousands

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Stockholders’ equity (deficit) 965,500  (139,100) (210,900) (256,000) 733,600  1,619,600 
Adjustments
Less: Net deferred tax assets (liabilities)1 751,700  (26,100) (14,500) 15,100  (27,600) (58,400)
Add: Allowance for doubtful accounts 3,800  4,900  2,200  2,300  1,500  7,600 
Add: Deferred revenue 3,360,200  3,007,100  2,091,400  1,955,100  1,788,000  1,519,200 
Add: Restructuring and other exit costs reserve —  —  2,100  57,200  8,400  1,300 
After Adjustment
Adjusted stockholders’ equity (deficit) 3,577,800  2,899,000  1,899,300  1,743,500  2,559,100  3,206,100 

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

1 Net deferred tax assets (liabilities). See details »


Adjustments to Capitalization Table

Autodesk Inc., adjusted capitalization table

US$ in thousands

Microsoft Excel LibreOffice Calc
Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Current portion of long-term notes payable, net —  449,700  —  —  398,700  — 
Long-term notes payable, net, excluding current portion 1,637,200  1,635,100  2,087,700  1,586,000  1,092,000  1,487,700 
Total reported debt 1,637,200  2,084,800  2,087,700  1,586,000  1,490,700  1,487,700 
Stockholders’ equity (deficit) 965,500  (139,100) (210,900) (256,000) 733,600  1,619,600 
Total reported capital 2,602,700  1,945,700  1,876,800  1,330,000  2,224,300  3,107,300 
Adjustments to Debt
Add: Operating lease liability (before adoption of FASB Topic 842)1 —  —  357,250  219,889  194,862  229,618 
Add: Current operating lease liabilities2 71,400  48,100  —  —  —  — 
Add: Long-term operating lease liabilities3 396,000  411,700  —  —  —  — 
Adjusted total debt 2,104,600  2,544,600  2,444,950  1,805,889  1,685,562  1,717,318 
Adjustments to Equity
Less: Net deferred tax assets (liabilities)4 751,700  (26,100) (14,500) 15,100  (27,600) (58,400)
Add: Allowance for doubtful accounts 3,800  4,900  2,200  2,300  1,500  7,600 
Add: Deferred revenue 3,360,200  3,007,100  2,091,400  1,955,100  1,788,000  1,519,200 
Add: Restructuring and other exit costs reserve —  —  2,100  57,200  8,400  1,300 
Adjusted stockholders’ equity (deficit) 3,577,800  2,899,000  1,899,300  1,743,500  2,559,100  3,206,100 
After Adjustment
Adjusted total capital 5,682,400  5,443,600  4,344,250  3,549,389  4,244,662  4,923,418 

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

1 Operating lease liability (before adoption of FASB Topic 842). See details »

2 Current operating lease liabilities. See details »

3 Long-term operating lease liabilities. See details »

4 Net deferred tax assets (liabilities). See details »


Adjustments to Revenues

Autodesk Inc., adjusted net revenue

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended: Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Net revenue 3,790,400  3,274,300  2,569,800  2,056,600  2,031,000  2,504,100 
Adjustment
Add: Increase (decrease) in deferred revenue 353,100  915,700  136,300  167,100  268,800  362,100 
After Adjustment
Adjusted net revenue 4,143,500  4,190,000  2,706,100  2,223,700  2,299,800  2,866,200 

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).


Adjustments to Reported Income

Autodesk Inc., adjusted net income (loss)

US$ in thousands

Microsoft Excel LibreOffice Calc
12 months ended: Jan 31, 2021 Jan 31, 2020 Jan 31, 2019 Jan 31, 2018 Jan 31, 2017 Jan 31, 2016
As Reported
Net income (loss) 1,208,200  214,500  (80,800) (566,900) (582,100) (330,500)
Adjustments
Add: Deferred income tax expense (benefit)1 (777,900) 13,400  (12,100) (40,200) (35,300) 246,000 
Add: Increase (decrease) in allowance for doubtful accounts (1,100) —  (100) 800  (6,100) 1,300 
Add: Increase (decrease) in deferred revenue 353,100  915,700  136,300  167,100  268,800  362,100 
Add: Increase (decrease) in restructuring and other exit costs reserve —  (2,100) (53,400) 49,700  7,100  (300)
Add: Other comprehensive income (loss), net of reclassifications 34,400  (25,300) (11,200) 54,700  (57,400) (67,800)
After Adjustment
Adjusted net income (loss) 816,700  1,116,200  (21,300) (334,800) (405,000) 210,800 

Based on: 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31), 10-K (reporting date: 2019-01-31), 10-K (reporting date: 2018-01-31), 10-K (reporting date: 2017-01-31), 10-K (reporting date: 2016-01-31).

1 Deferred income tax expense (benefit). See details »